Aberdeen Group plc Has $120.89 Million Stock Holdings in Elevance Health, Inc. $ELV

Key Points

• Aberdeen Group plc has reduced its stake in Elevance Health, Inc. (NYSE:ELV) by 20.0%, owning approximately 0.12% of the company after selling 69,523 shares in the first quarter.
• Vanguard Group Inc. and other institutional investors have increased their stakes in Elevance Health, with Vanguard now owning over $9.6 billion of the company's shares after a 3.1% increase in the first quarter.
• Elevance Health reported earnings of $8.84 EPS for the last quarter, missing analysts' expectations, despite a revenue increase of 14.3% year-over-year.

Aberdeen Group plc lowered its position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 20.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 278,480 shares of the company's stock after selling 69,523 shares during the quarter. Aberdeen Group plc owned 0.12% of Elevance Health worth $120,885,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Liontrust Investment Partners LLP raised its holdings in Elevance Health by 24.8% in the first quarter. Liontrust Investment Partners LLP now owns 29,782 shares of the company's stock worth $12,954,000 after purchasing an additional 5,915 shares during the period. Horizon Investments LLC raised its stake in shares of Elevance Health by 4.4% in the 1st quarter. Horizon Investments LLC now owns 4,021 shares of the company's stock valued at $1,749,000 after purchasing an additional 169 shares during the period. Trivium Point Advisory LLC acquired a new stake in Elevance Health in the 1st quarter valued at approximately $242,000. Sei Investments Co. lifted its position in shares of Elevance Health by 1.6% in the first quarter. Sei Investments Co. now owns 151,923 shares of the company's stock worth $66,080,000 after purchasing an additional 2,346 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC grew its holdings in shares of Elevance Health by 144.2% in the 1st quarter. Kovitz Investment Group Partners LLC now owns 32,640 shares of the company's stock valued at $14,197,000 after acquiring an additional 19,275 shares in the last quarter. Institutional investors own 89.24% of the company's stock.

Elevance Health Stock Performance

Shares of NYSE ELV traded down $1.3310 during trading hours on Wednesday, reaching $310.6690. 2,134,644 shares of the stock were exchanged, compared to its average volume of 2,721,708. The firm has a market capitalization of $69.96 billion, a price-to-earnings ratio of 13.22, a P/E/G ratio of 1.14 and a beta of 0.58. The stock's fifty day simple moving average is $327.09 and its 200 day simple moving average is $379.97. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.44 and a current ratio of 1.44. Elevance Health, Inc. has a 52 week low of $273.71 and a 52 week high of $567.26.

Elevance Health (NYSE:ELV - Get Free Report) last issued its quarterly earnings data on Thursday, July 17th. The company reported $8.84 EPS for the quarter, missing analysts' consensus estimates of $9.30 by ($0.46). The firm had revenue of $49.42 billion during the quarter, compared to analyst estimates of $48.26 billion. Elevance Health had a net margin of 2.83% and a return on equity of 17.59%. The business's quarterly revenue was up 14.3% compared to the same quarter last year. During the same period in the prior year, the company earned $10.12 earnings per share. Sell-side analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Wednesday, September 10th will be given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Wednesday, September 10th. Elevance Health's dividend payout ratio (DPR) is currently 29.11%.

Insiders Place Their Bets

In other Elevance Health news, CEO Gail Boudreaux acquired 8,500 shares of the business's stock in a transaction on Friday, July 18th. The stock was purchased at an average price of $286.94 per share, with a total value of $2,438,990.00. Following the acquisition, the chief executive officer directly owned 151,020 shares of the company's stock, valued at approximately $43,333,678.80. This trade represents a 5.96% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.29% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Wells Fargo & Company dropped their price target on shares of Elevance Health from $400.00 to $330.00 and set an "overweight" rating on the stock in a research report on Friday, August 15th. Guggenheim lowered their price objective on shares of Elevance Health from $447.00 to $360.00 and set a "buy" rating on the stock in a research note on Friday, July 18th. Leerink Partnrs cut shares of Elevance Health from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 17th. Royal Bank Of Canada reiterated an "outperform" rating and set a $478.00 price target on shares of Elevance Health in a report on Wednesday, June 4th. Finally, UBS Group restated a "buy" rating and issued a $484.00 price objective (down previously from $555.00) on shares of Elevance Health in a research note on Monday, July 14th. Twelve equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, Elevance Health presently has an average rating of "Moderate Buy" and a consensus target price of $413.81.

Elevance Health Profile

Elevance Health, Inc, together with its subsidiaries, operates as a health benefits company in the United States. The company operates through four segments: Health Benefits, CarelonRx, Carelon Services, and Corporate & Other. It offers a variety of health plans and services to program members; health products; an array of fee-based administrative managed care services; and specialty and other insurance products and services, such as stop loss, dental, vision, life, disability, and supplemental health insurance benefits.